Texas, a state that has long been known for its immense size, oil, beef cattle and football has also become famous for job creation. A recent Wall Street Journal article cited Texas as being "Where the New Jobs Are." The article described Texas as a mecca for the high-tech, venture capital, aeronautics, health care and industrial manufacturing industries.
According to the Monthly Review of the Texas Economy for October, published by the Real Estate Center at Texas A&M University, from Sept. 2009 to Sept. 2010, Texas added 166,600 jobs for an annual growth rate of 1.6 percent. The study reveals that during the same period, the entire U.S. economy gained only 321,000 jobs, for an annual growth rate of 0.2 percent. Keep in mind those numbers would be about half as much without the Texas numbers boosting them.
In addition, Newsweek recently cited the cities of Austin, Dallas, San Antonio and Houston - referred to as the "Texaplex" - as the No.1 destination for job-seeking Americans, thanks largely to the energy sector and a strong spirit of entrepreneurism. Our secret is a pro-business attitude created by low taxes and minimal regulations. This is what makes Texas stand out compared to other states such as California, where there are high taxes and over-reaching regulations causing the state to have a reputation for the worst business climate in the nation, according to Chief Executive Magazine's annual survey of 651 CEOs. Texas, on the other hand, was ranked the best.
When it comes to job creation, the can-do, pioneer spirit of Texas has created a hospitable environment for entrepreneurs and placed the Lone Star State as a leader in the national spotlight.